Steve Carrier on May 20, 2025
Tony Khan is talking up AEW’s streaming success in a big way, crediting the company’s move to Max as a turning point in 2025.
In an interview with the Toronto Sun, Khan claimed the streaming deal has brought AEW a younger, fresher audience. “What’s really changed for us this year—it’s been a true game-changer, sport-changer for AEW—is Max,” he said. “Having AEW on Max has helped us reach new viewers, new audience, a younger audience, all kinds of people that had never seen AEW before, maybe even some cord cutters that had gotten away from cable coming back into AEW now.”
Khan also asserted that AEW’s traditional cable viewership has increased since the streaming rollout, saying: “Even though we started streaming, more people are watching on cable, which is the complete opposite of what every analyst would have expected.”
But here’s the thing—those claims don’t exactly hold up.
According to Nielsen data and viewership, AEW Dynamite averaged around 816,000 viewers and a 0.26 P18–49 rating in Q1 2024. Fast forward to Q1 2025, and those numbers dipped to 619,000 viewers and a 0.17 rating—a 24.1% drop in total viewers and a 34.6% drop in the key demographic that Khan claims is growing.
Even weekly trends show the damage: episodes in January 2025 barely cracked 600,000 viewers, with some falling into the high 500,000s—an alarming decline from the 800K-plus numbers seen the year prior.
Still, Khan believes the Max partnership has added value. “That move into streaming has injected a lifeblood into AEW that’s been a really positive thing for the wrestlers, the staff, and the fans in 2025.”
Whether it’s optimism or spin, Khan is sticking to his story. But the numbers paint a very different picture—and fans are starting to take notice.
AEW Dynamite Viewership: Q1 2024 vs. Q1 2025
Q1 2024 Weekly Viewership (January–March)
| Date | Viewers |
|---|---|
| Jan 3, 2024 | 801,000 |
| Jan 10, 2024 | 797,000 |
| Jan 17, 2024 | 891,000 |
| Jan 24, 2024 | 837,000 |
| Jan 31, 2024 | 818,000 |
| Feb 7, 2024 | 811,000 |
| Feb 14, 2024 | 811,000 |
| Feb 21, 2024 | 828,000 |
| Feb 28, 2024 | 822,000 |
| Mar 6, 2024 | 779,000 |
| Mar 13, 2024 | 798,000 |
| Mar 20, 2024 | 800,000 |
| Mar 27, 2024 | 747,000 |
Q1 2024 Average Viewership: Approximately 816,000 viewers.
Q1 2025 Weekly Viewership (January–March)
| Date | Viewers |
|---|---|
| Jan 1, 2025 | 588,000 |
| Jan 8, 2025 | 615,000 |
| Jan 15, 2025 | 679,000 |
| Jan 22, 2025 | 655,000 |
| Jan 29, 2025 | 604,000 |
| Feb 5, 2025 | 605,000 |
| Feb 12, 2025 | 579,000 |
| Feb 19, 2025 | 563,000 |
| Feb 26, 2025 | 598,000 |
| Mar 5, 2025 | 600,000 |
| Mar 12, 2025 | 628,000 |
| Mar 19, 2025 | 658,000 |
| Mar 26, 2025 | 660,000 |
Q1 2025 Average Viewership: Approximately 619,000 viewers.
Year-over-Year Comparison
| Metric | Q1 2024 | Q1 2025 | Change |
|---|---|---|---|
| Average Viewership | 816,000 | 619,000 | –24.1% |
Please credit Ringside News if you use the above transcript in your publication.
Do you think AEW’s Max deal is really helping the company grow, or are the numbers proving otherwise? Please share your thoughts and feedback in the comment section below.
May 20, 2025 1:53 pm
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